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OSGOSG Corporation6136東証プライム機械FY ending Nov 2025, consolidated, J-GAAP

OSG revenue and profit

Out of every ¥100 of sales, about ¥13 is left as operating profit. Revenue changed +3.3% from the prior year, operating profit +7.7%.

Five-year trend

Revenue¥160.6B
FY ending Nov 2021: ¥126.2B¥126.2BFY ending Nov 2022: ¥142.5B¥142.5BFY ending Nov 2023: ¥147.7B¥147.7BFY ending Nov 2024: ¥155.5B¥155.5BFY ending Nov 2025: ¥160.6B¥160.6BFY21FY22FY23FY24FY25
Operating income¥20.3B
FY ending Nov 2021: ¥16.1B¥16.1BFY ending Nov 2022: ¥21.9B¥21.9BFY ending Nov 2023: ¥19.8B¥19.8BFY ending Nov 2024: ¥18.9B¥18.9BFY ending Nov 2025: ¥20.3B¥20.3BFY21FY22FY23FY24FY25
Operating margin12.7%
FY ending Nov 2021: 12.8%12.8%FY ending Nov 2022: 15.4%15.4%FY ending Nov 2023: 13.4%13.4%FY ending Nov 2024: 12.1%12.1%FY ending Nov 2025: 12.7%12.7%FY21FY22FY23FY24FY25

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin8.9%
Asset turnover0.61×
ROA5.5%
ROA5.5%
Financial leverage1.76×
ROE9.6%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin8.9%
2021: 8.7%8.7%2022: 11.6%11.6%2023: 9.7%9.7%2024: 8.6%8.6%2025: 8.9%8.9%2122232425
Asset turnover0.61×
2021: 0.60×0.60×2022: 0.65×0.65×2023: 0.62×0.62×2024: 0.61×0.61×2025: 0.61×0.61×2122232425
ROA5.5%
2021: 5.2%5.2%2022: 7.5%7.5%2023: 6.0%6.0%2024: 5.3%5.3%2025: 5.5%5.5%2122232425
Financial leverage1.76×
2021: 1.45×1.45×2022: 1.48×1.48×2023: 1.53×1.53×2024: 1.65×1.65×2025: 1.76×1.76×2122232425
ROE9.6%
2021: 7.6%7.6%2022: 11.1%11.1%2023: 9.1%9.1%2024: 8.7%8.7%2025: 9.6%9.6%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20218.7%0.60×5.2%1.45×7.6%
202211.6%0.65×7.5%1.48×11.1%
20239.7%0.62×6.0%1.53×9.1%
20248.6%0.61×5.3%1.65×8.7%
20258.9%0.61×5.5%1.76×9.6%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue58.6%
2020: 76.3%76.3%2021: 62.0%62.0%2022: 56.9%56.9%2023: 57.3%57.3%2024: 57.8%57.8%2025: 58.6%58.6%202122232425
PPE ÷ total assets35.2%
2020: 39.8%39.8%2021: 37.3%37.3%2022: 35.4%35.4%2023: 33.9%33.9%2024: 34.9%34.9%2025: 35.2%35.2%202122232425
Goodwill ÷ parent equity2.4%
2020: 3.2%3.2%2021: 3.2%3.2%2022: 2.9%2.9%2023: 2.3%2.3%2024: 3.2%3.2%2025: 2.4%2.4%202122232425
Goodwill balance¥3.59B
2020: ¥4.27B¥4.27B2021: ¥4.64B¥4.64B2022: ¥4.4B¥4.4B2023: ¥3.69B¥3.69B2024: ¥4.75B¥4.75B2025: ¥3.59B¥3.59B202122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥1.91B
2020: ¥1.4B¥1.4B2021: ¥1.37B¥1.37B2022: ¥1.35B¥1.35B2023: ¥1.42B¥1.42B2024: ¥1.62B¥1.62B2025: ¥1.91B¥1.91B202122232425
R&D / revenue1.2%
2020: 1.3%1.3%2021: 1.1%1.1%2022: 0.9%0.9%2023: 1.0%1.0%2024: 1.0%1.0%2025: 1.2%1.2%202122232425
Receivable days—
2020: 69d69d2021: 68d68d2022: 69d69d2023: 71d71d202122232425
Payable days24d
2020: 24d24d2021: 25d25d2022: 26d26d2023: 25d25d2024: 23d23d2025: 24d24d202122232425

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Revenue126,156142,525147,703155,517160,619
Cost of revenue76,96983,45987,25492,04294,800
Gross profit49,18659,06560,44863,47565,819
SG&A33,08137,16640,64844,60645,488
Operating income16,10521,89819,80018,86820,330
Pretax income16,35423,37820,74719,80321,334
Income tax5,0526,2005,9365,8046,543
Net income attributable to owners10,98916,53414,30713,43914,334
Operating margin12.8%15.4%13.4%12.1%12.7%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 18%
Property, plant and equipment 35%
5%
3%
Other assets 39%

Funding

2%
8%
Other liabilities 17%
Equity 73%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Cash and equivalents¥40.4B¥36.7B¥49.7B¥48.2B¥48B
Total assets¥209.8B¥228.9B¥250.1B¥257.3B¥267.7B
Net assets¥154.8B¥176.8B¥194.6B¥179.4B¥193.9B
Share capital¥12.2B¥13B¥13B¥13B¥13B
Trade receivables¥23.5B¥26.9B¥28.6B——
Property, plant and equipment¥78.3B¥81.1B¥84.7B¥89.9B¥94.1B
Intangible assets excluding goodwill¥5.92B¥5.8B¥5.45B¥9.67B¥8.77B
Goodwill¥4.64B¥4.4B¥3.69B¥4.75B¥3.59B
Investment securities¥4.29B¥4.8B¥5.81B¥6.35B¥7.5B
Current assets¥115.8B¥129B¥147.5B¥144.5B¥148.2B
Current liabilities¥25.8B¥23.8B¥24.6B¥27.5B¥25.2B
Trade payables¥5.24B¥5.89B¥6.02B¥5.79B¥6.19B
Short-term borrowings¥2.33B¥677M¥672M¥185M¥198M
Long-term borrowings¥20.1B¥18.9B¥16.4B¥12.5B¥11.6B
Bonds¥5B¥5B¥10B¥10B¥10B
Interest-bearing debt¥27.5Bderived¥24.6Bderived¥27Bderived¥22.7Bderived¥21.8Bderived
Total liabilities¥55B¥52B¥55.5B¥77.8B¥73.8B
Non-controlling interests¥11B¥12.2B¥13.1B¥12.8B¥13B
Equity attributable to owners of parent¥144.4B¥152.8B¥160.9B¥146.7B¥151.5B
Retained earnings¥120.2B¥132.3B¥140.4B¥148.1B¥151.6B
Treasury stock-¥1.04B-¥6.39B-¥5.84B-¥27.8B-¥26.5B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第113期(2024/12/01－2025/11/30)

    ID S100XM3S2026-02-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(2023/12/01－2024/11/30)

    ID S100VA1D2025-02-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第111期(2022/12/01－2023/11/30)

    ID S100SWMF2024-02-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第110期(2021/12/01－2022/11/30)

    ID S100Q94Z2023-02-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第109期(令和2年12月1日－令和3年11月30日)

    ID S100NJ5E2022-02-18Open

  • EDINET (FSA Japan)

    有価証券報告書－第108期(令和1年12月1日－令和2年11月30日)

    ID S100KUGS2021-02-22Open

Extracted from XBRL: 56 / Derived from other figures: 2

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